Noront Resources Ltd.

Noront Resources Ltd.

October 24, 2005 15:23 ET

Noront Resources Ltd.: Double Eagle Base Metal Project, McFaulds Lake Area Northern Ontario

TORONTO, ONTARIO--(CCNMatthews - Oct. 24, 2005) - Noront Resources Ltd. (Noront)(TSX VENTURE:NOT) listed on the TSXV exchange under the trading symbol NOT, announces that it has regained a 100% interest in its McFaulds Lake property. Noront states that it's option arrangements with Hawk Precious Minerals Inc. (Hawk) covering Hawk's right to earn a 50% interest in the Company's Double Eagle base metals project, McFaulds Lake area, northern Ontario has been cancelled. Additionally, Hawks's assignment to MacDonald Mines Exploration Limited (MacDonald) and their subsequent assignment to Diagem International Resources Corp. (Diagem) is also considered cancelled. Noront is now in possession of full and complete releases from all of the respective parties.

Noront will retain all of the funds paid and shares issued by Hawk without any further recourse by Hawk or its assigns.

Noront has completed a Geotech VTEM survey over part of the extensive land position held as well as an earlier Geotem survey completed by Fugro on the balance of the land position. Numerous high priority targets have been identified by these surveys with follow up line cutting and geophysics having been completed over most of the targeted areas. (See the Company's Press Release dated April 4, 2005).

The project is considered diamond drill ready.

The Company has had a number of inquiries regarding joint venturing this highly regarded project and is currently considering a new joint venture proposal which it is expected will include a diamond drill program to begin later this year.


"R. Nemis"

Richard Nemis,

President and Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information